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'Renters Are Struggling': Economists Back Tenant-Led Push for Federal Rent Control
(www.commondreams.org)
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this post was submitted on 06 Aug 2023
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No it's not. Just because you don't like it doesn't mean it's inherently predatory.
I have to move to a city for 6 months, should I have to buy a house and sell it during that time? I need to rent, it gives me the flexibility without having to shell out capital or get in debt to live.
As with everything, it can be bad, especially when the government restricts building of houses so much, but my buddy buying a house, fixing it up and renting it out isn't malicious.
What's your alternative to renting? Government owns all houses and gives them out for people to live in for free?
We have social housing for low income people, is that not enough? Do we just need more? How much more?
https://en.wikipedia.org/wiki/Subsidized_housing_in_the_United_States
Have you heard of the term the 'projects' - it's provided housing, but many of the subsidized housing areas are more like a 3rd world country than our prosperous 1st world country. Is this the policy you'd like more of?
I would rather pay the cost of service to the government than my landlord's mortgage
Just curious, why? What difference would it make for you? Many of these mortgages are government funded anyway. I don't rent anymore but my government is far more inept and corrupt than any landlord I've ever dealt with. Just my experience though.
Well, paying an at-cost price would mean it is inherently cheaper as the government wouldn't be trying to turn a profit, merely charge an amount that compensates for upkeep.
But is still building equity for a private individual.
I have a say in my government though, at least theoretically. I think housing (at least primary housing) shouldn't be a for-profit industry, so I advocate against it via my government.
lol.
With risk attached, yes.
Agreed. Nor should food, water, electricity, health services, etc. but here we are.
So you want housing as government controlled? How much? 100%? 80%? 50%? How much private residential property should be stolen by the government to achieve what you want.
wow is that the best strawman you could come up with? Public housing shouldn't exist because *checks notes* it is literally impossible to achieve without stealing existing homes? That's how you're gonna present your initial argument? Be better sporto
My biggest head scratcher now that I've bought a house is "huh, my mortgage is locked in now, no matter what the market does... Why did rent keep going up if my landlord's mortgages were locked in?"
I honestly don't have a good answer, I could be looking at something perfectly explainable. But to me it seemed like they raised rent not because costs went up, but because they could. Why not. Everybody else is doing it.
Mortgages are locked in. Taxes, insurance, utilities, maintenance/upkeep are not. All of those things have increased since I bought my house a year ago. Rental properties experience the same thing.
My landlord's taxes went down, I pay for utilities, not sure about insurance, as for upkeep I will let you know when I see that happening.
Property taxes went down? I doubt that. As far as upkeep, if the furnace goes out, who pays for that? The property owner. That's what I meant.
We got federal money for Covid and the commerical sector is doing well. Pretty sure the furnace is fine, but it isn't like I have lived here for multiple years.
Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?
Less than my apartment ever was 😜
And what's especially nice is everything I buy and repair goes to me, belongs to me.
Sure I had to buy a washer and dryer, lawn mower, more furniture, etc, but that's all mine forever.
The only cost that's higher at my house than my much smaller apartment is utilities.
How much?
A few hundred a month less. I'm not suddenly drowning in money, obviously, but it's interesting paying less for much more, and that money actually benefitting my net worth vs being flushed down the toilet
See, you can't even answer a simple question.
You weren't actually asking questions to gain knowledge, you just want to hide the facts so it looks like you're right. Home ownership is expensive, and for most people, isn't ideal, renting is a huge need on our society so I don't have to give up 50k cash right now, so I don't have to pay 15k/yr in property taxes, a 20k water heater bill randomly and I can move next money if I want to. You being willingly ignorant to those don't change the facts.
You do realise a democratic state can provide rental unit equivalents right? You don't necessarily need private landlords.
The rates going up as fast as they have when prices are still high have killed buying as an alternative to renting in my city.
I feel for people who weren't "smart enough" to buy during the pandemic, because unless prices, rates, or both drop dramatically, it looks like they may have been permanently priced out of buying and renting is only getting less affordable.
Not all landlords are predatory maybe, but at least in this city the overwhelming majority of them are. They're also like a half dozen corporations that hold most of the apartment buildings. They raise their rates dramatically like clockwork even though I'm in California and we have Prop 13 which holds their tax raises to very low percentage increases yearly.
I would say that for the most part, yes, it has a relationship to what it would cost to buy the same property...but it's location dependent. You can't (for the most part) buy an apartment here. It's almost certainly the case (I'm only not 100% sure because a lot of the apartment complex holding companies are private) that they have low rate mortgages or no mortgages at all on the buildings, and they charge more and more as time goes forward despite their costs not really increasing.
We're entering a neo-feudalistic economy and while yes, again, there's some relation to the cost...a lot of it is just straight up greed.
It made you more rich on paper, but the reality is that you aren't in the same boat as landlords. The reason is that if you live in your property in order to realize the profit on it you'll have to sell it and move somewhere less expensive (i.e. somewhere likely less desirable).
Prices in real estate going up only really benefits real estate tycoons, the local government (depending upon location), and other side players in the market (e.g. real estate agents). For the rest of us, if you sell it just means that you have to turn around and buy in a more expensive market. Also (depending upon location, California properties aren't completely re-assessed for taxes until they change hands) it hikes your taxes.
As a single property owner in California, I'm rooting for prices to drop so I can upgrade and still pay the same amount of taxes (or less).
I wouldn't bet on it happening though.